Western Reserve Partners Advises SolmeteX, Inc. in its Acquisition by Layne Christensen Company

02/05/2008

Western Reserve Partners LLC announced today that it represented SolmeteX, Inc., based in Northborough, Massachusetts, in its acquisition by Layne Christensen Company.

Leading the assignment for Western Reserve Partners was Managing Director Joseph G. Carson, supported by Director David P. Mariano and Analyst David D. Helsel. “It was a pleasure working with SolmeteX and its highly talented team and Board of Directors,” said Carson. “SolmeteX is on the leading edge of pollution control solutions for the water and wastewater industry, and we believe it will be a valuable addition to Layne Christensen’s portfolio.”

Founded in 1994, SolmeteX has emerged as an innovator and developer of specialized chemistries, technologies and processes that cost-effectively remove toxins from drinking water and wastewater. Its impressive technology portfolio positions it as a market leader in one of the fastest-growing industries today. SolmeteX’s products include its Hg5® Series of Amalgam Separators used for dental mercury removal and its npXtra™ series of products used for arsenic and uranium removal.

Based in Mission Woods, Kansas, Layne Christensen’s Water Resources Division provides a full line of water-related services and products, including hydrological studies, site selection, well design, drilling and well development, pump installation, and repair and maintenance. SolmeteX will operate as a wholly owned subsidiary of Layne Christensen, led by SolmeteX’s Chief Executive Officer, Owen Boyd, and President Nick Mozzicato.

"Our entire team is extremely pleased and excited to be part of such a growing and dynamic company," said Boyd. "Our technology inside the Layne Christensen organization will be a potent combination. The talents of our scientists and the resources of our laboratory facilities will be instrumental in the company's strategy to develop unique, high-end products in addressing the increased regulatory compliance the water and wastewater industry faces."

Jeffrey Fehn, current Chief Financial Officer of Oakwood Laboratories LLC in Oakwood Village, Ohio, was a Director of SolmeteX. “The Western Reserve team did a superb job advising our board of directors and working closely with the management team to structure a transaction that we are all very pleased with,” said Fehn. “They were very ‘hands-on’ throughout the transaction, and we benefited from their creativity and attention to detail in leading the deal team and structuring the transaction.”

Western Reserve Partners LLC is a boutique investment banking firm that provides customized investment banking solutions for middle-market companies. The firm’s managing directors collectively have more than 160 years of experience and have directly executed more than 500 transactions and managed more than 1,300 transactions. For more information, visit www.wesrespartners.com.

For additional information, please contact Joseph Carson at (216) 574-2102 or jcarson@wesrespartners.com.

The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others. The testimonials are not paid and are not indicative of future performance or success.